Is it possible to open a pharmacy inside a mall?

usakitsan

New Member
10+ Year Member
Nov 19, 2007
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  1. Pharmacy Student
    Hi, everyone

    Me and my friends want to open a pharmacy inside a mall which is located in the heart of downtown, Flushing NY. However, there is only one internal doctor across the street. But the rent is very attractive. $5000 per 600sq ft. but not included water and electric bill, and you have to pay extra 13% for the maintenance fee. One of the biggest problem is the store is located at a corner and not noticeable and we need to pay extra money for the advertisement in the parking lot, supermarket and on the street. I don't know if this is a good deal or not. and anyone give me some suggestion especially those own a store.
     

    kvl1027

    Member
    10+ Year Member
    Jul 11, 2006
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    Tampa, FL
    1. Pharmacist
      Hi, everyone

      Me and my friends want to open a pharmacy inside a mall which is located in the heart of downtown, Flushing NY. However, there is only one internal doctor across the street. But the rent is very attractive. $5000 per 600sq ft. but not included water and electric bill, and you have to pay extra 13% for the maintenance fee. One of the biggest problem is the store is located at a corner and not noticeable and we need to pay extra money for the advertisement in the parking lot, supermarket and on the street. I don't know if this is a good deal or not. and anyone give me some suggestion especially those own a store.

      Overall, sounds like a bad deal. If you are not buying an existing pharmacy with a current customer base you are gonna sink fast at 5k per month rent, especially without Dr's office feeding traffic to your store. 5k for 600 sq ft, is a lot. You can probably find something with more space and a better location for less. Keep in mind that for the most part, you will not start to turn profit for at least 3 years.
       
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